Bonow Corporation is estimating the following purchases in the fourth quarter of 2020 : October purchases =$100,000 November purchases =$75,000 December purchases =$50,000 The company estimates that it will pay 90% of the purchases in the month after purchase and the remaining 10% in the second month after purchase. What are the estimated cash payments for month of December? $67,500 $72,500 $77,500 $52,500 $45,000 None of the answers are correct